Acadia Realty Trust (NYSE:AKR) EVP Jason Blacksberg Sells 30,000 Shares of Stock

Acadia Realty Trust (NYSE:AKR) EVP Jason Blacksberg sold 30,000 shares of the firm’s stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $22.81, for a total transaction of $684,300.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Acadia Realty Trust Stock Down 0.1 %

Shares of Acadia Realty Trust stock opened at $22.49 on Friday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.96 and a current ratio of 0.96. The stock has a market capitalization of $2.69 billion, a PE ratio of 124.95, a price-to-earnings-growth ratio of 6.09 and a beta of 1.49. Acadia Realty Trust has a 52-week low of $16.10 and a 52-week high of $26.29. The company has a 50-day simple moving average of $23.19 and a two-hundred day simple moving average of $23.66.

Acadia Realty Trust (NYSE:AKR) last issued its earnings results on Tuesday, February 11th. The real estate investment trust reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.23. Acadia Realty Trust had a net margin of 5.74% and a return on equity of 0.88%. On average, analysts anticipate that Acadia Realty Trust will post 1.34 EPS for the current fiscal year.

Acadia Realty Trust Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 3.56%. This is a boost from Acadia Realty Trust’s previous quarterly dividend of $0.19. The ex-dividend date is Monday, March 31st. Acadia Realty Trust’s payout ratio is presently 444.44%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on AKR shares. StockNews.com lowered shares of Acadia Realty Trust from a “hold” rating to a “sell” rating in a report on Monday, December 2nd. Truist Financial raised their price target on shares of Acadia Realty Trust from $23.00 to $27.00 and gave the stock a “hold” rating in a report on Thursday, December 5th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $23.00.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in AKR. Smartleaf Asset Management LLC raised its holdings in shares of Acadia Realty Trust by 91.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,502 shares of the real estate investment trust’s stock valued at $36,000 after purchasing an additional 717 shares during the last quarter. GF Fund Management CO. LTD. purchased a new position in shares of Acadia Realty Trust during the fourth quarter valued at approximately $46,000. Sterling Capital Management LLC raised its holdings in shares of Acadia Realty Trust by 960.9% during the fourth quarter. Sterling Capital Management LLC now owns 3,692 shares of the real estate investment trust’s stock valued at $89,000 after purchasing an additional 3,344 shares during the last quarter. USA Financial Formulas raised its holdings in shares of Acadia Realty Trust by 14.4% during the fourth quarter. USA Financial Formulas now owns 3,886 shares of the real estate investment trust’s stock valued at $94,000 after purchasing an additional 489 shares during the last quarter. Finally, KBC Group NV grew its position in Acadia Realty Trust by 44.1% during the fourth quarter. KBC Group NV now owns 4,733 shares of the real estate investment trust’s stock valued at $114,000 after buying an additional 1,448 shares during the period. 97.65% of the stock is owned by hedge funds and other institutional investors.

About Acadia Realty Trust

Acadia Realty Trust is an equity real estate investment trust focused on delivering long-term, profitable growth via its dual Core Portfolio and Fund operating platforms and its disciplined, location-driven investment strategy. Acadia Realty Trust is accomplishing this goal by building a best-in-class core real estate portfolio with meaningful concentrations of assets in the nation's most dynamic corridors; making profitable opportunistic and value-add investments through its series of discretionary, institutional funds; and maintaining a strong balance sheet.